Ecobank Transnational Incorporated (ETI), the Lomé based parent company of the Ecobank Group has announced that it has successfully raised $350 million Tier 2 Sustainability Notes. According to the statement, the Tier 2 issuance was the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed…
Lords town Motors Corp. announced the abrupt departure of its two top executives and said its board found evidence of inaccurate statements, intensifying the turmoil for the electric-vehicle maker and onetime SPAC star. Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez have resigned from the company, effective immediately, the company said in…
CHI Limited has unveiled Chivita Active Zest, a new and exciting sub-brand under the Chivita Active franchise. The launch intends to disrupt the mid-pack segment of the juice category by fulfilling the growing consumer demand for a healthy on-the-go beverage to support their active lifestyle without compromising on great taste, convenience, and enhanced nourishment. Chivita…
Cardiff’s airport was hardest hit by the Covid pandemic in the UK last year, seeing an 87% decline in passengers, figures show. Traveller numbers there dropped from 1,656,085 in 2019 to 219,984 in 2020. In Britain and Northern Ireland as a whole, 223 million passengers were lost in 2020 because of coronaviru Some 74 million…
Dividend yields on Nigerian stocks are ahead of those available on Africa’s major stock markets – but investors will have to tread carefully to avoid the pitfalls, analysts say. The dividend yield on the NSE 30 Index at the end of May stood at 6.26%, meaning income for investors was more than 50% higher than…
Plans by Nation Media to carry out Kenya’s first share buyback may be copied by other companies needing to reward shareholders as stock prices languish. The company proposed buying back up to 10% of its stock in a circular sent to shareholders on 31 May. The buyback, subject to shareholder approval, will run until 24…
A forecasted decrease in GCC sukuk, Egypt’s enticing yields, and business sectors that have thrived during the pandemic could guarantee the country an auspicious low-cost debut of the Islamic bonds. On the other hand, the sukuk could lead to a rise in utility bills. Egypt’s impending issuance of the sovereign sukuk is widely hailed as…
Nigerian banks are faced with low growth and a punitive cash reserve ratio of 27.5% at home. They are betting on the African Free Trade Zone to expand elsewhere on the continent. However, the profitability of their subsidiaries outside Nigeria is relatively average. Are they falling into an expansionary trap? A pastoral setting, an elegantly…
National Union of Postal and Telecommunication Employees (NUPTE) has said only the Nigeria Postal Service (NIPOST) has the right to collect stamp duty, and not the Federal Inland Revenue Service (FIRS). The union claimed the power to collect stamp duty given to FIRS is illegal. Speaking with reporters, President of NUPTE, Comrade Nehemiah Buba, said the union had…
